Sunwing Vacations' infamous Sun Week extravaganza returns with daily door crashers and prizes
This week only: daily deals on resorts plus excursion discounts and the chance to win private transfers, vacations and more
TORONTO, May 26, 2025 /CNW/ - Sunwing Vacations customers have waited long enough for summer's most exciting sales event to return. Today, the leading vacation provider celebrates the return of Sun Week, running for seven days from May 26 to June 1, 2025, offering Canadian travellers more ways to save with daily door crashers, reduced rates, the chance to win prizes that bring even more value to their all inclusive summer getaways, and even more.
Kicking off Sunwing's week-long savings event, today's door crasher spotlights savings of up to $1,940* per pair at all-ages Riu Palace Mexico in Riviera Maya, Mexico, offering something for the whole family from the RiuLand kids club to a plethora of international dining options.
Vacation-seekers should keep their eyes on Sunwing's Sun Week homepage throughout the week for the exclusive deals dropping daily – and expiring every night at 11:59 p.m. – for the following resorts in some of the most sought-after destinations in Cuba, Mexico, Central America and the Caribbean.
May 27: Grand Memories Holguin, Holguin
May 28: Riu Playa Blanca, Panama
May 28: Riu Palace Pacifico, Riviera Nayarit
May 29: Viva Miches by Wyndham, Punta Cana
May 30: Riu Palace Cabo San Lucas, Los Cabos
May 30: Viva Fortuna Beach by Wyndham, Grand Bahama
May 31: Bluebay Grand Esmeralda, Riviera Maya
June 1: Melia Las Antillas, Varadero
Beyond the core of value-driven vacations, Canadians are given even more incentive to book their getaways during Sun Week. When customers book a vacation package by June 1, 2025 for travel by October 31, 2025, a 15% discount voucher to be used on NexusTours.com excursions* will automatically be delivered to their inbox, helping travellers do more with their vacations while savings more in the process.
Plus, when customers secure their getaway during the booking period, they're automatically entered into a draw for the chance to win private transfers, gift cards from NexusTours.com, Skip and Bikini Village, and one of seven vacations for two*. Non-purchasing customers are also eligible to win but are limited to one entry during the contest period and must submit the form available on Sunwing.ca.
Canadians can stay up to date on Sunwing's Sun Week daily door crashers and limited time deals by visiting Sunwing.ca or contacting their local travel advisor.
*Terms and conditions apply.
About Sunwing Vacations
As the leading vacation provider in Canada, Sunwing Vacations offers more vacation packages to the south than any other vacation provider with convenient direct service from cities across Canada to popular sun destinations across the Caribbean, Mexico and Central America. This scale enables Sunwing Vacations to offer customers exclusive deals at top-rated resorts in the most popular vacation destinations. Sunwing Vacations customers benefit from the assistance of our trusted partner in destination, NexusTours, whose representatives greet customers upon arrival and support them throughout their vacation journey. For more information, please visit sunwing.ca.
SOURCE Sunwing Vacations Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/26/c4805.html
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Time Business News
4 hours ago
- Time Business News
Navigating Homeownership in Texas: A Canadian Expat's Comprehensive Guide to Tax Complexities in The Woodlands
Introduction: When Opportunity Crosses the Border Your employer in Ottawa calls you into a Monday‐morning meeting and announces a career-altering transfer to The Woodlands, Texas. The upside is clear: world-class master-planned communities, towering pines, and proximity to Houston's booming business ecosystem. Yet with that same offer letter comes the practical question: should you buy a home in Texas, and what does that mean for your tax life on both sides of the border? Canadian citizens relocating for work quickly discover that cross-border real estate is less about granite countertops and more about treaty articles, withholding rules, and competing definitions of 'principal residence.' In this deep-dive, we unpack the layered tax rules triggered when a Canadian purchases—then eventually sells—a Texas property. We also show how partnering with a cross-border financial advisor skilled in cross-border tax planning and holistic Canada U.S. Financial Planning can turn potential minefields into manageable stepping-stones. 1. Profile of Our Relocated Canadian Meet Daniel, a 38-year-old software architect from Ottawa who will spend the next three to five years heading his company's U.S. product division. He moves with a spousal work permit, two school-aged children, and an eye toward laying down roots in The Woodlands. His goals: Purchase a family home within six months. Keep ties to his Canadian RRSP and corporate pension. Minimize cross-border tax friction during ownership and upon eventual sale. Avoid shocking surprises if he returns to Canada or remains in the U.S. long-term. Daniel's situation is typical of thousands of Canadian professionals sent south every year. The decisions he makes in the first twelve months will shape his tax exposure for a decade. 2. Why The Woodlands Appeals to Canadian Expats Before diving into taxes, it helps to grasp why The Woodlands is a magnet: No state income tax. Texas's lack of state tax is attractive, but the savings can blind newcomers to other levies—especially robust property taxes and potential federal implications. Texas's lack of state tax is attractive, but the savings can blind newcomers to other levies—especially robust property taxes and potential federal implications. Corporate campuses and energy corridor access. Many Canadian energy and tech companies maintain Houston-area offices. Many Canadian energy and tech companies maintain Houston-area offices. Lifestyle parity. Top-ranked schools, extensive green spaces, and family-friendly suburbs echo the comforts of Canadian metropolitan life. Yet each perk comes bundled with unique tax nuances that differ sharply from Ontario, Alberta, or British Columbia norms. 3. The Cross-Border Tax Landscape—Setting the Table 3.1 Dual-Tax Residency Tension Upon arrival, Daniel could be considered a resident of both Canada and the United States. Canada taxes worldwide income based on residency, while the U.S. taxes based on citizenship or substantial presence. Because Daniel is neither a USC nor a green-card holder, his U.S. residency hinges on the Substantial Presence Test (SPT). If he spends 183 weighted days or more during a calendar year—or elects residency under IRC §7701(b)(4)—he becomes a U.S. resident for federal tax purposes. Implication: Owning a Texas home can strengthen U.S. residency ties, but the Canada-U.S. Tax Treaty's tiebreaker rules may still assign him to one country. Understanding that interplay is critical before signing a purchase contract. 3.2 Capital vs. Ordinary Income Canada and the U.S. both treat real-property gains as capital in nature, but depreciation rules, currency fluctuation reporting, and the principal-residence exemption differ dramatically. 3.3 Withholding Regimes (FIRPTA) When foreign persons sell U.S. real estate, the Foreign Investment in Real Property Tax Act (FIRPTA) generally requires buyers to withhold 15 percent of the gross selling price. Daniel might recoup a portion upon filing his U.S. return, but cash-flow pain is real unless planning steps are taken before listing. 4. Buying a Home in Texas—Step-by-Step Tax Concerns 4.1 Financing: U.S. Mortgage vs. Canadian HELOC U.S. Mortgage: Generally easier for local underwriters to evaluate, but Daniel must build two‐year U.S. credit history or rely on cross-border lender programs that accept Canadian credit reports. Generally easier for local underwriters to evaluate, but Daniel must build two‐year U.S. credit history or rely on cross-border lender programs that accept Canadian credit reports. Canadian HELOC (Home Equity Line of Credit): Tapping equity in an Ottawa property introduces exchange-rate exposure and potential thin-capitalization issues if the HELOC is later converted to U.S. denominated debt. Pro Tip: Some Canadians structure purchases through cross-border lenders who report mortgage interest to the IRS on Form 1098, simplifying deductibility claims on a U.S. Schedule A. 4.2 Down-Payment Sourcing Large CAD-to-USD transfers trigger FINTRAC and U.S. anti-money-laundering forms. Banks may request Form 3520/3520-A filings if funds flow through Canadian trusts or corporate entities. Missteps can incur $10,000+ penalties, making early consultation with a cross-border financial advisor essential. 4.3 Texas Property Taxes & Homestead Exemption Texas eschews state income tax and instead funds schools and counties via property taxation. New arrivals often gasp at effective rates of 2–3 percent of appraised value. Claiming a homestead exemption can lower this burden, but Daniel must establish Texas residency (driver's license, voter registration) while ensuring he does not inadvertently sever Canadian ties too soon. 5. Canadian Tax Treatment During Ownership 5.1 Principal Residence Exemption (PRE) Limitation If Daniel keeps his Ottawa condo and designates it his Canadian principal residence, the Texas property accumulates non-resident capital-gain tax in Canada. Conversely, electing the Texas house as his PRE may jeopardize Ottawa gains. The formula is: Exempt years=years designated as principal residence+1years owned\text{Exempt years} = \frac{\text{years designated as principal residence} + 1}{\text{years owned}}Exempt years=years ownedyears designated as principal residence+1 5.2 Foreign Tax Credit (FTC) and Double Tax Relief When Daniel files his T1 return, gains from U.S. real estate remain taxable in Canada absent PRE coverage. However, he may claim a foreign tax credit for U.S. taxes paid, limited to the lesser of actual U.S. tax or Canadian tax on the same income. Coordinating the timing of sale to maximize FTCs—while avoiding Alternative Minimum Tax (AMT) intricacies—is a classic value-add from cross-border tax planning . 5.3 Foreign Reporting (T1135) The Texas home, as foreign real property, must be reported annually if cost exceeds CAD $100,000. Failure to file T1135 triggers penalties averaging CAD $2,500 per year, plus potential gross-negligence fines. 6. U.S. Federal Tax Treatment During Ownership 6.1 Mortgage Interest & SALT Deduction Limits Post-Tax Cuts and Jobs Act, SALT (state and local tax) deductions are capped at USD $10,000. Property taxes alone in The Woodlands can hit that ceiling. Mortgage interest on up to USD $750,000 of acquisition debt is deductible if Daniel itemizes. Strategic loan sizing and thoughtful prepayments can maximize after-tax benefits. 6.2 Depreciation vs. Canadian Capital Cost Allowance (CCA) U.S. rules allow 27.5-year straight-line residential depreciation, generating annual losses that may offset rental income if Daniel converts the home to a rental later. In Canada, claiming CCA on foreign rental property forfeits PRE for that year and complicates recapture. Proper ledger separation is crucial. 6.3 Passive Activity Loss (PAL) Limitations If Daniel's adjusted gross income exceeds USD $150,000, passive losses may be suspended. A future sale can unlock those suspended losses, reducing taxable gain—a nuance often missed without sophisticated Canada U.S. Financial Planning . 7. Currency Considerations—The Hidden Tax 7.1 Foreign Exchange on Purchase Buying at CAD $1 = USD $0.72 and selling at parity can inflate capital gains when measured in Canadian dollars. Both CRA and IRS require reporting in domestic currency. Daniel should maintain contemporaneous FX records, ideally automated through multi-currency software recommended by his cross-border financial advisor . 7.2 Mortgage Currency Mismatch If Daniel borrows in USD but earns in CAD, each mortgage payment involves a deemed FX disposition. Over years, small unrealized currency gains can snowball into taxable events in Canada. 8. Selling the Texas Home—Major Minefields 8.1 FIRPTA Withholding Mechanics Unless Daniel becomes a U.S. green-card holder, the buyer must withhold 15 percent of gross proceeds (not net gain). Exceptions: Sale price under USD $300,000 and buyer intends to occupy. IRS withholding certificate obtained pre-closing by projecting actual tax liability. Applying for a certificate demands credible cost-basis documentation—closing statements, renovation invoices, depreciation schedules—meticulously curated during ownership. 8.2 Section 121 Exclusion (U.S. Principal Residence) If Daniel (and spouse) live in the home for at least two of the five years preceding sale, they may exclude up to USD $500,000 of gain. But watch: Nonresident aliens cannot claim §121; Daniel must be a U.S. tax resident in year of sale. Depreciation recapture from rental years is taxable at 25 percent. 8.3 Canadian Capital-Gain Inclusion Canada taxes 50 percent of the capital gain, converted to CAD at settlement date FX. If Daniel already used his PRE on the Ottawa condo, the Texas gain is fully taxable in Canada. However, U.S. federal (and potential FIRPTA) tax becomes a foreign tax credit, mitigating double taxation. 9. Estate Tax, Probate, and Gifting 9.1 U.S. Estate Tax Exposure Non-U.S. persons owning U.S. situs assets above USD $60,000 face U.S. estate tax. Treaty formulas prorate Daniel's exposure based on his worldwide estate relative to the U.S. unified credit. Titling the home in a Canadian corporation or cross-border trust can shield estate tax but may sacrifice preferential rates on capital gains. 9.2 Texas Probate Texas probate is relatively streamlined, yet any foreign executor will need an in-state attorney ad litem. A revocable living trust or enhanced transfer on death (TOD) deed can avoid probate delays. 9.3 Gifting the Property to Children A well-intentioned gift could trigger FIRPTA, U.S. gift tax (if donor or donee is U.S. resident), and Canadian deemed disposition. A coordinated gift-splitting strategy under treaty Article XXIX B may alleviate double levies. 10. How a Cross-Border Financial Advisor Adds Value 10.1 Pre-Arrival Blueprint Residency Modeling: Simulate days in U.S. vs. Canada under multiple scenarios to determine treaty residency and tax domicile. Simulate days in U.S. vs. Canada under multiple scenarios to determine treaty residency and tax domicile. Financing Structure: Compare cross-border mortgage programs, evaluate CAD-indexed lines of credit, and optimize deductible interest alignment with personal cash flows. 10.2 Ownership Phase Management Recordkeeping Automation: Tools for dual-currency ledgers, T1135 reminders, U.S. FBAR reporting, and depreciation tracking. Tools for dual-currency ledgers, T1135 reminders, U.S. FBAR reporting, and depreciation tracking. Proactive SALT Optimization: Balancing property-tax prepayments with SALT cap, charitable bunching, and Roth vs. TFSA contribution timing. 10.3 Exit and Re-entry Strategy FIRPTA Certificate Applications: Coordinate appraisals, gather cost basis evidence, and file Form 8288-B to reduce withholding at closing. Coordinate appraisals, gather cost basis evidence, and file Form 8288-B to reduce withholding at closing. Gain Harvesting vs. Deferral: Weigh selling during low-income sabbaticals or before anticipated CAD appreciation. Weigh selling during low-income sabbaticals or before anticipated CAD appreciation. Repatriation Planning: If returning to Canada, merge proceeds into RRSP top-ups, RESP funding, or principal-protected notes to hedge FX risk. 10.4 Integrated Canada U.S. Financial Planning Across these stages, advisors combine treaty literacy with investment management, insurance structuring, and estate design—creating a unified roadmap. Without such guidance, homeowners may overpay taxes, misfile forms, or miss filing windows that close after 15 June (CRA) or 15 April (IRS). 11. Case Study: Daniel's Tailored Outcome With his cross-border financial advisor , Daniel: Secured a USD $600,000 mortgage through a lender accepting Canadian credit, ensuring Form 1098 issuance. Claimed Texas homestead exemption while preserving Ottawa condo as Canadian PRE under treaty tie-breaker year one; year two he cut Canadian ties and became U.S. resident, unlocking §121 eligibility. Automated FX logs via multi-currency bookkeeping to track CAD cost basis. Initiated a revocable trust holding title, minimizing probate and segmenting estate-tax exposure. Filed Form 8288-B at listing; buyer withheld only estimated tax, freeing cash for a down payment on a new Houston suburb upgrade. Leveraged foreign tax credits to eliminate Canadian tax after Ottawa condo sale, resulting in combined capital-gain tax below 10 percent. Net savings over a five-year horizon: USD $140,000 compared with do-it-yourself compliance, plus immeasurable peace of mind. 12. Practical Checklist for Would-Be Buyers Phase Action Item Advisor Touchpoint Pre-Purchase Model residency days; apply CRA Form NR73 if needed Residency calibration Obtain pre-approval from cross-border lender Mortgage structuring Closing Draft statement of adjustments capturing currency rates Cost-basis tracking Ensure title insurance recognizes foreign status Legal coordination Ownership File T1135 annually; claim U.S. deductions Ongoing compliance Review property-tax assessments; protest if inflated SALT optimization Disposition Request FIRPTA certificate 90+ days pre-close Withholding mitigation Allocate suspended passive losses; time sale for low-bracket year Exit strategy 13. Beyond Taxes: Lifestyle & Risk Considerations Healthcare Coverage: Provincial health coverage may lapse after 182–212 days abroad; supplemental U.S. plans must coordinate with travel back to Canada. Provincial health coverage may lapse after 182–212 days abroad; supplemental U.S. plans must coordinate with travel back to Canada. Insurance Gaps: Texas homeowner policies exclude windstorm and flood; cross-border advisors coordinate umbrella liability with excess personal‐liability riders valid in both countries. Texas homeowner policies exclude windstorm and flood; cross-border advisors coordinate umbrella liability with excess personal‐liability riders valid in both countries. Education Savings: RESP contributions may be penalized under U.S. PFIC rules—alternatives include 529 plans or brokerage accounts, harmonized via global asset-allocation overlays. 14. Frequently Overlooked Pitfalls Treaty Elections Filed Late: Missing the Article IV tiebreaker statement or §216 election for rental income can double-tax first-year rent. Ignored Departure Tax: If cutting Canadian residency, deemed disposition on worldwide assets—including pensions—may trump property concerns. State-Level Surprises Outside Texas: Future job moves to states with income tax (e.g., California) alter deductibility and estate planning frameworks. Canadian 'Foreign Buyer' Taxes: Provinces like British Columbia impose speculation taxes on homes left vacant; returning expatriates may unwittingly owe if they keep Canadian real estate. Conclusion: Transform Minefields into Milestones Real estate has long stood as a symbol of stability and personal success. For Canadians dispatched to The Woodlands, however, the purchase of a dream home doubles as an intricate cross-border tax project. Navigating dual-residency rules, withholding regimes, depreciation traps, and currency swings requires more than guesswork—it demands specialized expertise. A seasoned cross-border financial advisor integrates legal, tax, and cash-flow insights into one cohesive playbook. Through proactive cross-border tax planning and comprehensive Canada U.S. Financial Planning , homeowners like Daniel not only avoid pitfalls but also leverage treaty advantages, maximize cash retention, and secure generational wealth across two nations. In the end, the key lesson is simple: treat your relocation home not just as a roof over your head, but as an asset that spans two tax jurisdictions. With the right guidance, you can enjoy Texan sunshine, Houston career growth, and Canadian financial peace of mind—without getting scorched by unexpected tax rays along the way. TIME BUSINESS NEWS
Hamilton Spectator
7 hours ago
- Hamilton Spectator
U.S. envoy closely eyes Canada defence spending; says NATO about collective defence
OTTAWA - The American ambassador to Canada is closely watching as Ottawa shapes its defence budget, but says the U.S. will not dictate what the Canadian government must spend. 'We're not expecting anything; that's not our job to make those expectations,' Ambassador Pete Hoekstra said in an interview with The Canadian Press this past Friday, a day after NATO defence ministers endorsed new spending targets. Hoekstra also said the point of the NATO military alliance is to defend each other when under attack. He noted Americans haven't forgotten the 'investment and the sacrifice' Canadian troops made in Afghanistan when the U.S. invoked the NATO treaty's article on collective defence. 'They were fulfilling the commitment that they made to NATO — that when one of us is attacked we are all attacked, and we will defend each other,' Hoekstra said of Canadian soldiers. Hoekstra was not directly commenting on U.S. President Donald Trump's statement in March that Washington would not necessarily come to the aid of countries that don't pay their fair share on defence and that Canada has been freeloading on American defence of the continent. He did acknowledge Canada's defence spending has been an 'irritant' in the relationship with the U.S. This past week, defence ministers from NATO countries met in Brussels to discuss raising the member spending target on defence to as much as five per cent of GDP. Canada has never met NATO's existing spending target of two per cent since it was established in 2006. Trump and Prime Minister Mark Carney are engaged in what both sides have characterized as 'intensive' discussions toward the new economic and security deal the two leaders agreed to work on once the Canadian election concluded in April. NATO figures suggest Canada's defence spending rose from about one per cent in 2014 to 1.33 per cent in 2023. The NATO secretary-general's annual report, released in April, said Canada's defence spending would hit 1.45 per cent for 2024. In terms of absolute dollars, a Canadian Global Affairs Institute analysis last year said Canada ranks as the seventh largest spender in NATO, and the 14th largest in the world. Carney promised during the recent election campaign to move up Canada's deadline for meeting the 2 per cent threshold from 2032 to 2030 or sooner but has not yet shown a plan for how to do that. It will require Canada to add billions of new dollars annually. The prime minister is set to join other heads of government from NATO countries for an annual summit starting June 24 in the Netherlands. They are expected to approve a new defence investment plan that defence ministers hammered out this week, which would have member nations invest 3.5 per cent of GDP on core defence spending, and 1.5 per cent on defence and security-related investment such as infrastructure and resilience. That proposal is coming amid waning American commitments and a revanchist Russia. In recent years, both Democrats and Republicans have urged Canada to boost its Arctic defence, and the previous Biden administration praised much of what Ottawa outlined in an Arctic foreign policy last year. Trump has suggested defence of the Arctic is part of his 'Golden Dome' plan for a continental missile-defence shield. On May 27, the president said he told Ottawa it would cost US$61 billion to be part of the project. Hoekstra said he hasn't seen a breakdown of the costs, but said the 'really awesome technology' is likely estimated at 'proportionally what we think the Canadian share should be.' Defence Minister David McGuinty said Canada was reviewing its defence spending from 'top to bottom' and would have more to say about its plans soon, though the government isn't planning to table a budget until the fall. Hoekstra framed NATO as part of the wide partnership the U.S. has with Canada in security, which also includes secure energy flows and stopping illicit drugs. 'We need to do the things that will keep our citizens safe,' Hoekstra said. 'There are a lot of things that Americans and Canadians have in common, and we're looking forward to great days.' Hoekstra said Trump is trying to take the U.S. off an unsustainable trajectory, which he framed as millions of people crossing the U.S. border undocumented, spending way beyond government revenue and large trade deficits. 'The president is transforming that, because we need to,' he said. Trump's discussions with Carney will likely include the sweeping reform of border security that the Liberals tabled in Parliament last week. Hoekstra had yet to go through the legislation as of Friday. The ambassador said he's focused on win-win policies for both countries and not the prospect of Canada becoming an American state, despite Trump raising the notion as a way for Canadians to save on the cost of joining his Golden Dome project. Former Canadian diplomat Colin Robertson has said Hoekstra is limited in how much he can diverge from Trump's comments. But he said the ambassador has great access to the president, and his public messaging likely reveals how he has been advising Trump. This report by The Canadian Press was first published June 8, 2025.
Hamilton Spectator
14 hours ago
- Hamilton Spectator
Nova Scotia's ambitious ‘Wind West' offshore energy plan wins support with conditions
HALIFAX - Two leading environmental groups are giving a thumbs up to Nova Scotia's ambitious plan to dramatically expand its fledgling offshore wind energy industry. But both groups were quick to add caveats. On Monday, Premier Tim Houston said the province's plan to license enough offshore wind farms to produce five megawatts of electricity would be increased eightfold to 40 megawatts, well beyond the 2.4 megawatts Nova Scotia needs. He called on Ottawa to help cover the costs of his new Wind West project, saying the excess electricity could be used to supply 27 per cent of Canada's total demand. 'Nova Scotia is on the edge of a clean energy breakthrough,' the Progressive Conservative premier said in an online video, adding the province is poised to become an 'energy superpower.' Gretchen Fitzgerald, executive director of Sierra Club Canada, said the premier's bold plan, which includes building transmission lines across the country, represents an exciting opportunity for the province. 'It could be a game-changer for the region and for Canada,' she said in an interview from Ottawa. 'But it needs to be done correctly and with consultations.' Fitzgerald said the Nova Scotia and Canadian governments must focus on securing long-term benefits from the nascent offshore wind industry because they did a poor job on that front when dealing with the offshore oil and gas sector. 'We have to make sure that we are not selling out what is a massive resource for less benefit than communities should have,' Fitzgerald said, adding that Nova Scotia continues to suffer from a high rate of energy poverty. In May of this year, utility affordability expert Roger Colton produced a report showing that 43 per cent of Nova Scotians were struggling to pay their energy bills — the highest proportion in Canada. While Fitzgerald applauded Houston's clean energy plan, she criticized what she described as the premier's populist penchant for taking decisive action before consulting with experts and the public. 'Moving from a couple hundred turbines to thousands in the next decade needs to be done in a staged way so we learn how to do this right,' she said, adding Houston appears to have adopted a ''move-fast-and-break-things mentality.' '(That) can lead to unacceptable harm to sensitive ocean life,' she said. 'From a community benefits and acceptance point of view, breaking trust can be the biggest barrier to getting to good climate solutions.' In October 2023, the Public Policy Forum released a study saying Sable Island Bank, an ocean area about 180 kilometres south of Nova Scotia, is among the world's best locations for wind energy generation. 'It and several other similarly endowed areas off the coast of Atlantic Canada hold the potential to place the region among the leading global hubs of offshore wind-powered energy development,' says the report from the independent non-profit think tank. It goes on to say that as the world shifts from a dependence on fossil fuels to forms of energy that do not emit climate-changing greenhouse gases, Atlantic Canada is facing 'a once-in-a-lifetime opportunity ... to recover an economic vitality comparable to the Age of Sail — fittingly built again on the power of wind at sea.' The report says the installation of 15 gigawatts of offshore wind generation would create about 30,000 direct jobs annually. Despite the hype, the industry must also earn acceptance from Nova Scotia's fishing industry, which in 2023 contributed $2.5 billion to the province's economy and employed 19,000 people. In Halifax, a spokesman for the Ecology Action Centre called on the provincial government to build public trust, especially with coastal communities. 'There really needs to be a priority on stakeholder engagement for all ocean users,' said senior energy co-ordinator Thomas Arnason McNeil. 'We're going to need to prioritize ecological safeguards and preserve the existing livelihoods that we have. That includes the fishing industry. That's half the economy in Nova Scotia.' Still, he said the province's big push for clean energy is on the right track, especially when it comes to building out its electricity grid to better connect with the rest of the country. If done right, the payoff would be enormous, Arnason McNeil said. 'We're talking serious job creation here and a lot of revenue potentially,' he said. 'The bottom line is that you have to do this right. (But) the prize at the end of the road is monumental in terms of the benefits.' A call for bids to build enough offshore turbines to generate five gigawatts of electricity is expected as early as this year. This report by The Canadian Press was first published June 8, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
